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Piedmont Community Charter board reviews preliminary 2027 budget, projects $532,546 surplus
Summary
The Piedmont Community Charter board reviewed detailed April financials and a preliminary 2027 budget; presenters said projected 2027 revenue is about $19.46 million against $18.92 million in expenses, creating a projected surplus of $532,546. Board discussion covered state planning allotment shifts, staffing costs, and audit fees.
Miss Claire presented the preliminary 2027 budget and an April monthly financial report, saying projected total revenue for 2027 is $19,456,637 against projected expenses of $18,924,584, leaving a projected surplus of $532,546. She attributed the lower revenue outlook mainly to the expectation that a one-time county supplemental “bailout” will not repeat next year and walked the board through state, federal and local allotment changes that shape the projection.
"Our per-pupil planning allotment is $6,594 — an increase of $15 per pupil — which raises state-based funding by roughly $29,264," Miss Claire said, noting that other state and federal a lotments and one-time funds received this year (for example, a connectivity allocation used for network switches) are not expected in 2027 and have been excluded from next year’s base budget.
She detailed line-item drivers of the budget change: an increase in salaries of about $148,298 due to one new high-school computer-science position and several positions filled at top pay; benefits rising about $92,976 (largely reflecting a reported 5% state health-plan increase); a net change in bond-related debt service (interest down, principal up); and contract shifts including a modest increase to the third-party accounting contract with Prestige School Solutions.
The presenter also asked the board to approve two audit engagements: the annual school audit (reported fee $17,250, up roughly $300 from the previous year) and a 401(k) audit (reported $20,000, an increase attributed to higher retirement-account assets). The auditing firm was identified as DMJPS, noted to be operating under a merged name.
Staff summarized cash and investment positions for April (operating, student-activities and investment accounts) and said the projected debt-service coverage ratio is about 1.3 and cash-on-hand levels meet existing bond requirements. The presenter emphasized that the plan assumes no additional fund-balance appropriations in 2027 and that the full projected surplus would be added to cash/investments at year-end.
A presiding board member asked for a vote on the proposed budget during the meeting; the provided transcript records the request for a vote but does not include the motion text, the mover/second, or the vote tally in the available segments.
Next steps: staff will bring a formal motion and any required approval language for the board to act on; auditors’ engagement letters were presented for board approval. The transcript does not record final board outcomes for the budget or the audit engagements in the included segments.
